A quick recap: a US appeals court on October 26 upheld a court ruling by New York Judge Thomas Griesa that opened the door to Argentina making some payment of the “holdout” creditors led by Elliott’s NML Capital, which spurned its 2005 and 2010 restructurings of the nearly $100bn on which it defaulted in 2001. Judge Griesa had ruled on the basis of an “equal treatment” clause. Read more